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Dec 1, 2012
12/12
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it would make a difference in the deficits. and then we'll talk revenue. >> larry we're not suggesting dropping out, either. >> neil pattell thank you very much. senator kay bailey hutchson appreciate it. >>> next up lipitor and the fallout. the people who take the popular drug need to know. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... those surprising little still make you take notice. there are a million reasons why. but your erectile dysfunction that could be a question of blood flow. cialis for daily use helps you be ready anytime the moment's right. you can be
it would make a difference in the deficits. and then we'll talk revenue. >> larry we're not suggesting dropping out, either. >> neil pattell thank you very much. senator kay bailey hutchson appreciate it. >>> next up lipitor and the fallout. the people who take the popular drug need to know. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500...
SFGTV2: San Francisco Government Television
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Dec 5, 2012
12/12
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SFGTV2
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our budget, we have a mess, i inherited a budget deficit of $26 billion. we have cut that substantially. from the mortgage meltdown that occurred because of the bad decisions and this behavior throughout our economy, the revenue in california is up 23%. that is a big number. america, the asset values were destroyed, something like $7 trillion. a lot of that was a bubble. that was popped and resulted -- we have had to manage a difficult situation. even before the bubble popping, there was excess. because the money flows in in a regular amounts, when money is good, everybody feels good. when $14 billion came in, they thought they were king of the mountain and spend it. arnold came in to clean it up. a couple years later, he left town and $26 billion this year. this has been the nature for the last decade, kicking the can down the road. not talking straight. the way it is. the way it is, it is a tale of two cities. there is fabulous wealth and link electronics, inc. model number: pdr-885 software version: 3.0c in some places it would be food or shelter or lov
our budget, we have a mess, i inherited a budget deficit of $26 billion. we have cut that substantially. from the mortgage meltdown that occurred because of the bad decisions and this behavior throughout our economy, the revenue in california is up 23%. that is a big number. america, the asset values were destroyed, something like $7 trillion. a lot of that was a bubble. that was popped and resulted -- we have had to manage a difficult situation. even before the bubble popping, there was...
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Nov 30, 2012
11/12
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FBC
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on the left, the number ishe projected deficit for this fiscal year, 2013. the production is $100,000,000,000.04. senator, this is a joke. this is 8% of the projected deficit and people are willing to, with absolute certainty, nd this count into recession and destroy millions of jobs. i mean, this president -- he is frankly -- he is about to deliver a disaster to the american people. >> the president has an opportunity to be a real leader or he can be a politician. he has just come off from the election. we will have to see in the next few weeks if he's going to be really involved. most of the jobs in america are fed by small usinesses. these tactics will go to small-business people. you're going to choke on the job recovery of the future. everyby knows that. i think that the president needs to get real with this. i guess he is still campaigning. he's a good campaigner. but this is real economics now. we have to put the campaign aside and see what is best for america. more taxes without cuts, that's not good for ameri to be one republicans can win this negot
on the left, the number ishe projected deficit for this fiscal year, 2013. the production is $100,000,000,000.04. senator, this is a joke. this is 8% of the projected deficit and people are willing to, with absolute certainty, nd this count into recession and destroy millions of jobs. i mean, this president -- he is frankly -- he is about to deliver a disaster to the american people. >> the president has an opportunity to be a real leader or he can be a politician. he has just come off...
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Dec 7, 2012
12/12
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CSPAN
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eye 125
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but reduces the deficit is jobs. -- what reduces the deficit is jobs. why are we not here to pass the middle-income tax cuts, which unleashes -- creases the high- and contribution to the budget talks? why are we not here to pass middle-income tax cuts? debatee we not heare to the middle-income tax cuts? could it be that deep republicans are holding the middle-income tax cuts hostage to tak cuts for the wealthy? as long as they will not touch one red cent from the high end, we will never have the revenue to combine with the savings and spending cuts to reduce the deficits to create jobs, grow the economy, and improve the lives of americans. [indiscernible] we want to protect the middle class. it is not about the rates. it is about the money. it is about being a fugitive to the high end. it is about giving money to reduce the deficit, perot the economy, and unleash the power. it depends on how much money you can get and say, they will pay less. the middle class will pay more. >> 37% would bring in reckless and revenues? >> i do not know that. -- 37% would
but reduces the deficit is jobs. -- what reduces the deficit is jobs. why are we not here to pass the middle-income tax cuts, which unleashes -- creases the high- and contribution to the budget talks? why are we not here to pass middle-income tax cuts? debatee we not heare to the middle-income tax cuts? could it be that deep republicans are holding the middle-income tax cuts hostage to tak cuts for the wealthy? as long as they will not touch one red cent from the high end, we will never have...
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Nov 30, 2012
11/12
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CNBC
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we still need to deal with our deficit. that's why this fiscal cliff discussion goes on indefinitely day by day. it is a crucial point in america and we got to come to a conclusion which is helpful to everybody. >> prediction time. you have to make any -- predictions? >> for next year n. >> yeah. i have to make one. >> 2%. >> here is what i want to ask you. what's the biggest threat to the u.s. economy in 2013? i will give you a couple of choices. wry want to do fiscal cliff. is europe still -- could it be a huge threat? have we -- have we moved far enough along there that -- with sort of dealing with it where that is not going to be the threat that we saw? >> for business in my mind, the threat is not that europe will come apart. they will hold it together. but the economy is not growing. export markets are weak. they are weak in eastern asia, too, except for china. china is going to be way down where it was. probably 7% next year. i think that -- the -- the u.s. has been a very successful exporter. these mark et cetera ar
we still need to deal with our deficit. that's why this fiscal cliff discussion goes on indefinitely day by day. it is a crucial point in america and we got to come to a conclusion which is helpful to everybody. >> prediction time. you have to make any -- predictions? >> for next year n. >> yeah. i have to make one. >> 2%. >> here is what i want to ask you. what's the biggest threat to the u.s. economy in 2013? i will give you a couple of choices. wry want to do...
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Dec 5, 2012
12/12
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CSPAN2
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last year the deficit was 7.9%. this year with the apf coupons it is forecast to be 6.9%, but that excludes the aspect of the royal mail pension access. it will fall to 5.2% the year after, 4.2 president in 2015-'16, before reaching 1.6% in 2017-'18. in 2009-'10 the country was borrowing 159 billion pounds. this year we are borrowing 108 billion pounds. that is forecast to fall to 99 billion next year, 88 billion the year after, then 73 billion in 2015-'16 and 49 billion and 31 billion in the two years around that. these are the central forecasts published by the opr with the asset purchase facility cash transfer included. when the transfer is excluded, as we show in the document, the deficit also falls from 7.9% last year to 7.7% this year, then 6.9% next year and falls in every single year after that. and cash borrowing falls in every year as well. now, there are those who have been saying that the deficit was going up this year. indeed, i think i heard it in prime minister's questions. but any way you present the
last year the deficit was 7.9%. this year with the apf coupons it is forecast to be 6.9%, but that excludes the aspect of the royal mail pension access. it will fall to 5.2% the year after, 4.2 president in 2015-'16, before reaching 1.6% in 2017-'18. in 2009-'10 the country was borrowing 159 billion pounds. this year we are borrowing 108 billion pounds. that is forecast to fall to 99 billion next year, 88 billion the year after, then 73 billion in 2015-'16 and 49 billion and 31 billion in the...
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Dec 7, 2012
12/12
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CSPAN
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. i do think to focus and our biggest driver is going forward,social security, medicare, to on them. will be more important in the number on discretionary spending or tax cuts themselves. do you think the president's plan adequately addresses the sustainability of medicare and social security? further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. i do think to focus and our biggest driver is going forward,social security, medicare, to on them. will be more important in the number on discretionary spending or tax cuts themselves. do you think the president's plan adequately addresses the sustainability of medicare and social security? further. i...
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Dec 3, 2012
12/12
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CNBC
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david, how much of the deficit, if we let the bush tax cuts sunset, how much of the deficit goes away? >> well, a significant percentage. >> like three quarters of it. >> it's not a good thing to do. it's going to push us back. >> when is it a good time? >> we need a down payment of both revenue and spending reductions, but we need to achieve four to five trillion over ten years through a grand bargain and we have to make sure that we're going to achieve a lot more than that beyond the ten years because we have 10,000 people a day retiring. health care costs are still out of control and we have to look long-term. that's why we say debt to gdp. >> somebody just sent in a really good question. that is with the president's health care plans, with obama care, does that change the debt to gdp in terms of taxes going up? >> it makes it worse. >> it's already going up. >> the affordable care act expanded cover an to 36 million people. it did not do enough to control costs. there are positive aspects of it, but according to the chief actuary of medicare, it's estimated to cost $12 trillion mo
david, how much of the deficit, if we let the bush tax cuts sunset, how much of the deficit goes away? >> well, a significant percentage. >> like three quarters of it. >> it's not a good thing to do. it's going to push us back. >> when is it a good time? >> we need a down payment of both revenue and spending reductions, but we need to achieve four to five trillion over ten years through a grand bargain and we have to make sure that we're going to achieve a lot more...
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Dec 4, 2012
12/12
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KQED
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the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the republicans came back with their own yesterday. as you look
the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial...
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Dec 6, 2012
12/12
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CNBC
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it doesn't solve the deficit. it's about eight days of federal spending, certainly isn't good for the economy. i think the question senator casey made this point, it isn't exactly the number, it's how we get to that new revenue. we really believe that the key is to fix this broken tax code to generate a stronger economy and the revenue that comes with it, in addition to authentic spending discipline and we need to find a bipartisan solution to save social security and medicare. i think chairman casey and i could work that out. we have a long way to go. >> senator and congressman you emphasized the importance of middle income families and supporting job creation. one thing congress has to decide is the future of the payroll tax cut which many believe has been an important support for economic growth over the last couple of years. where do the two of you stand on continuing the payroll tax cut? >> larry i introduced legislation which has two parts, one is to extend the payroll tax cut as you and others have made cle
it doesn't solve the deficit. it's about eight days of federal spending, certainly isn't good for the economy. i think the question senator casey made this point, it isn't exactly the number, it's how we get to that new revenue. we really believe that the key is to fix this broken tax code to generate a stronger economy and the revenue that comes with it, in addition to authentic spending discipline and we need to find a bipartisan solution to save social security and medicare. i think chairman...
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Nov 29, 2012
11/12
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MSNBCW
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howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where there's really no plan. everything's broken down. nobody knows where anybody is. i think that could be pretty ugly in the markets. having said that, my own view is, that going over the fiscal cliff is only the second worst thing that can happen. the worst thing that can happen would be for congress to simply kick the can down the road on everything. >> that's exactly right. >> extend all the taxes, extend all the spending, let life go merrily on the way it is. we cannot let that happen. it is time to address the deficit. and if going over the
howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where...
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Nov 29, 2012
11/12
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CNNW
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we need to be creating jobs, not trying to cut the deficit. there is a time for that. we need jobs. >> tavis, good to see you, and you have a very famous voice. you were just on -- >> well, it is not that english thing you have, though. >> obviously, mine is much more. >> and coming up, something with a memorable voice, a lottery queen herself. we'll talk powerball. she has the name millions know and love, please reveal your name to us. >> i am yolanda vega. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ and the next great idea could be yours. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hyb
we need to be creating jobs, not trying to cut the deficit. there is a time for that. we need jobs. >> tavis, good to see you, and you have a very famous voice. you were just on -- >> well, it is not that english thing you have, though. >> obviously, mine is much more. >> and coming up, something with a memorable voice, a lottery queen herself. we'll talk powerball. she has the name millions know and love, please reveal your name to us. >> i am yolanda vega. but,...
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trillion a year deficit. you're not going to solve all that with tax increases and cutting discretionary programs. we have to fix the intitlement programs. we can talk about how we do it. >> you have to be specific, steve. because when you talk about fixing the entitlement programs, we're clear, social security is off the table. what do you mean? >> what secretary geithner said is on a separate process. >> we're talking about between now and 30 days from now. >> this is preeminently where a president has to lead and be specific. you can't expect the republicans to lead on an area that he's dominated in politically. >> here's an entitlement idea, a way to help support medicare, let them dictate price -- drug prices. >> steve, this, to me, is a much more interesting debate than tom and dan. because i think the president has done exactly what he's done in the past in this negotiating. he's not grinding it out with speaker boehner. he's out giving speeches, rallying his base. meeting with groups like moveon.org.
trillion a year deficit. you're not going to solve all that with tax increases and cutting discretionary programs. we have to fix the intitlement programs. we can talk about how we do it. >> you have to be specific, steve. because when you talk about fixing the entitlement programs, we're clear, social security is off the table. what do you mean? >> what secretary geithner said is on a separate process. >> we're talking about between now and 30 days from now. >> this is...
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Dec 3, 2012
12/12
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FOXNEWSW
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on social security he denied any effect on the deficit at all. durbin said earlier last week social security hasn't added a dime to the dif is it. in fact, in 2012, it adds $160 billion of debt. there is more money in trust fund of social security to take care of it for 20 more years 25, more years. that means that pieces of paper in the trust fund with the treasury says we will pay you. but it doesn't have the money. it's spent the surplus in the past. that is simply a promise, from a treasury which is bankrupt. they won't touch social security. why? political implications. republicans are bad guys and they are the good guys. we don't want to balance it on back of seniors as if you are going to reform this and killing the budget. everybody agrees that is the one area where the treasury is hemorrhaging. impacting the seniors to get out of the drug company. that is absurd. the only way to attack this is to slow down the growth of healthcare. and the one area that you could really do that tort reform where a quarter of all spending in medicine is s
on social security he denied any effect on the deficit at all. durbin said earlier last week social security hasn't added a dime to the dif is it. in fact, in 2012, it adds $160 billion of debt. there is more money in trust fund of social security to take care of it for 20 more years 25, more years. that means that pieces of paper in the trust fund with the treasury says we will pay you. but it doesn't have the money. it's spent the surplus in the past. that is simply a promise, from a treasury...
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Dec 3, 2012
12/12
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KPIX
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i think we'll lay a framework for the deficit reduction we're going to do in the future. we're not going to cross the "and dot the ayes, but them we'll throw it in and fig that you are out. if we do those things i think we'll solve the uncertainty issue to a significant enough degree and our economy will start to gain traction. >> schieffer: may ayou'll be last word. >> i don't think we'll go off the cliff. i think politician of both sides understand it's just not worth it to bet the country on this. i do worry as they spend the next year or six months working out the details, there is going to be such extreme pressures on both sides not to make the hard choices we know has to be part of a real keel so i think it's important there are pressures to keep on so if they don't come up with solution through the committee there are ways to make sure we get the savings. the u.s. has the benefit of being a safe haven. we have more time than other countries but we will lose that confidence if we don't start to show our political system can function and approximately solve these pro
i think we'll lay a framework for the deficit reduction we're going to do in the future. we're not going to cross the "and dot the ayes, but them we'll throw it in and fig that you are out. if we do those things i think we'll solve the uncertainty issue to a significant enough degree and our economy will start to gain traction. >> schieffer: may ayou'll be last word. >> i don't think we'll go off the cliff. i think politician of both sides understand it's just not worth it to...
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Dec 7, 2012
12/12
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CNBC
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>> we have an enormous deficit problem in the united states. nobody's dealt with it since bill clinton was president of the united states. there are a number of things we're going to have to do in order to meet our deficit. we're going to have to both raise taxes and cut spending. one of the areas we must cut spending is defense. there hasn't been serious cuts in defense in 30 years. the defense industry is well positioned. they have plants in something in over 300 districts. there's a lot of bipartisan defense spending. for example, the defense authorization bill that just passed yesterday in the senate gave the pentagon $17 billion more than they asked for. so to think that any industry or any taxpayer or any group of people who depend on government spending can be exempted from the serious problem that we have that's caused by this deficit is a mistake. everybody is going to have to pay for this. >> dawn, right or wrong, the defense industry has this reputation of being bloated, overcharging. are we at a point where we could afford to make c
>> we have an enormous deficit problem in the united states. nobody's dealt with it since bill clinton was president of the united states. there are a number of things we're going to have to do in order to meet our deficit. we're going to have to both raise taxes and cut spending. one of the areas we must cut spending is defense. there hasn't been serious cuts in defense in 30 years. the defense industry is well positioned. they have plants in something in over 300 districts. there's a...
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Dec 1, 2012
12/12
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CSPAN2
tv
eye 92
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which hasn't been better actually the trade deficit is actually significantly down but not all. we have had some that have become more competitive that is the front on which we need to work. the political debate hasn't kept up with the reality it's no longer the quarter of that anymore. it's the broadest of countries some that need to be worked on and the next president isn't just china bashing but what do we need to do have a world that is everybody trying to run a trade surplus which the government believes it is possible. [laughter] >> then there is this issue of trade and income inequality. and there's a similar level that presumably had relatively little to do with the distribution. if you make -- canada sends assembled cars back to the united states that is and when to be making a big difference to the deficiency. now we do a lot in the countries that are substantially lower income and are selling less labor-intensive products that are increasing the inequality and come through the skull the differentials and it's not simply put part of this revolution ourself. the trade i
which hasn't been better actually the trade deficit is actually significantly down but not all. we have had some that have become more competitive that is the front on which we need to work. the political debate hasn't kept up with the reality it's no longer the quarter of that anymore. it's the broadest of countries some that need to be worked on and the next president isn't just china bashing but what do we need to do have a world that is everybody trying to run a trade surplus which the...
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Dec 6, 2012
12/12
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CSPAN
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eye 94
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the present proposal, do you see any common ground? -- and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any major structural changes
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think...
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Dec 2, 2012
12/12
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FOXNEWSW
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bub it is not part -- but it's not part of the current deficit issue at all. separate issue. you may call it premium the medicare program and tosses it over to the private health insurance companies. i have worked with the private health insurance companies for a long, long -- >> it's not true. >> sorry, it does happen to be what the premium support is all about. you are supporting the premium for private health insurance companies. call it vouch every or premium support. in either case it terminates the medicare as we know it. that is a problem for seniors. >> we are leaving on many point of disagreement, not agreement. we know you have a lot of work to do on the hill. we thank you for taking time out for us today. we wish you beth to find abcompromise. >> thank you. >> thank you, shannon. >> this is a fox news alert. nine militants and at least five afghans are reportedly dead after a fire fight at an air base in american afghanistan that lasted more than two hours. officials say two suicide bombers detonated explosives outside the base that helicopters fired on them. they
bub it is not part -- but it's not part of the current deficit issue at all. separate issue. you may call it premium the medicare program and tosses it over to the private health insurance companies. i have worked with the private health insurance companies for a long, long -- >> it's not true. >> sorry, it does happen to be what the premium support is all about. you are supporting the premium for private health insurance companies. call it vouch every or premium support. in either...
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Dec 6, 2012
12/12
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KTVU
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increase in tax rates as part of a comprehend sufficient plan -- comprehensive plan to cut the federal deficit. some are looking for ways to save faces a they give in. >>> and maintenance costs, used by state lawmakers, at least a douse member of the legislature had repairs on those vehicles and repairs were made before lawmakers used them for their personal use. in any case the costs were thousands of dollars. >> only state in the country finally ended this program and they saw some abuse and they saw voters did not like the program and that it was a perk they could give up. >> starting this year, lawmakers are not issued any cars anymore instead they are. >> paid a moulin rate -- mileage rate for using their own vehicles. >>> now here is a look at items where they recently confiscated them from the burglary ring. investigators have arrested two brothers and a woman all in their 20s in connection with thefts. if your property is part of the cache look at the web link section. >>> according to a new census data, there were more than a 11 million immigrants living in the u.s. compared to 2007.
increase in tax rates as part of a comprehend sufficient plan -- comprehensive plan to cut the federal deficit. some are looking for ways to save faces a they give in. >>> and maintenance costs, used by state lawmakers, at least a douse member of the legislature had repairs on those vehicles and repairs were made before lawmakers used them for their personal use. in any case the costs were thousands of dollars. >> only state in the country finally ended this program and they saw...
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volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentlemen is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and this dave thank you so much for being on the show. very good to be here we're going to have you because you have said and i would definitely agree the bubbles have received bad press whether we're talking about the two live bubble in the sixteen hundreds or whether we're talking about the real estate bubble ahead of two thousand and eight but in some instances you say bubbles can be good why can bubbles be good and what kind of a bubble would we need or might we need now. well the first thing as you've said is that bubbles are boringly common where ever there is a active trading liquid market in an asset from tulip bulbs to real e
volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentlemen is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and this dave thank you so much for...
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Nov 30, 2012
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it will have no effect on deficit. no effect on rescuing us. and i think republicans ought not play that game. it doesn't help the income. >> to answer your question, the middle class tax cuts are permanent. and the response to charles would be that the obama white house believes it will help the economy. >> they're completely wrong. that is the problem. >> bret: next up, the friday lightning round. [ "odd couple" theme plays ] humans -- even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why, at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else mes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? >> bret: every week, viewers vote for your choice online in the lightning round poll. and this week, cabinet reshuffle won with 36% of the vote. back with the panel. okay, bill. susan rice hasn't been dominated for everything but we think she might be nominated for secretary of state.
it will have no effect on deficit. no effect on rescuing us. and i think republicans ought not play that game. it doesn't help the income. >> to answer your question, the middle class tax cuts are permanent. and the response to charles would be that the obama white house believes it will help the economy. >> they're completely wrong. that is the problem. >> bret: next up, the friday lightning round. [ "odd couple" theme plays ] humans -- even when we cross our t's...
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Dec 7, 2012
12/12
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the deficit and debt will improve as 34%. but the one thing they are certain is that taxes will increase. and in the next four years how it affected you think the federal government will be on each of the following issues. we read a list of these issues, we rotated those. this is how it basically stacks up. ensuring long-term future of entire programs such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business environment that allows for innovation. lowering the federal deficit actually false down to 40. not as much confidence there as a part on the other side. we been said the training faces a number of challenges including but not limited to large budget deficits, national debt, slower economic recovery, high unemployment, deep political divide on many issues. do you believe we will overcome these challenges in the foreseeable future as we've done in the past, or do you think these are unique set of challenges that are so serious that we might not be
the deficit and debt will improve as 34%. but the one thing they are certain is that taxes will increase. and in the next four years how it affected you think the federal government will be on each of the following issues. we read a list of these issues, we rotated those. this is how it basically stacks up. ensuring long-term future of entire programs such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business...
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Nov 29, 2012
11/12
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job creation is essential to reducing the deficit. we firmly believe if you want to reduce the deficit, create jobs. you can grow the economy and reduce the deficit. it's all together. and that is attested to by every bipartisan task force, commission, you name it, that has come together. you can't get there from here in terms of deficit reduction and fiscal soundness without having revenues be on the table. i'd like to yield to the assistant leader for his comments. >> thank you, madame leader. i think that this meeting was very, very fruitful. it simply reminds us -- >> we are listening to commentary after nancy pelosi's meeting with timothy geithner. as you heard, ms. pelosi continuing to stick to her guns in terms of raising revenue as well as spending cuts. we don't have the clarity this market is looking for. that is, where will the cuts be? where will the revenue be? we're still waiting on compromise. as soon as we get some indication of that compromise, we'll bring it to you. maybe there's hope, meanwhile, for the twinkie. hos
job creation is essential to reducing the deficit. we firmly believe if you want to reduce the deficit, create jobs. you can grow the economy and reduce the deficit. it's all together. and that is attested to by every bipartisan task force, commission, you name it, that has come together. you can't get there from here in terms of deficit reduction and fiscal soundness without having revenues be on the table. i'd like to yield to the assistant leader for his comments. >> thank you, madame...
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Nov 29, 2012
11/12
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deficits of 1.25 trillion for the last five years. so we have a problem in our country that really needs to be resolved. we've become addicted to stimulus really through deficit spending, through 0% interest rates. >> how are you investing around this? >> we're comfortable investing in corporate bonds. bond spreads have tightened, but investors still being paid on a reasonable basis. we have structured products like clos. >> do you care if we go over the cliff? >> it's a concern, but i think it's actually not that much of a concern to me, no. >> so it's okay? >> we look at the fundamentals of companies when we invest and the fundamentals of companies are very strong. probably will affect the stock market more than the bond market. >> and so ultimately you really don't care. >> i'm agnostic to it. >> this is like the first person we've had on the set that said he'sing a n ing agnostic. >> you would almost like to say that it might even be a positive. >> i think that's what he is saying. >> it's really addressing the problem of the coun
deficits of 1.25 trillion for the last five years. so we have a problem in our country that really needs to be resolved. we've become addicted to stimulus really through deficit spending, through 0% interest rates. >> how are you investing around this? >> we're comfortable investing in corporate bonds. bond spreads have tightened, but investors still being paid on a reasonable basis. we have structured products like clos. >> do you care if we go over the cliff? >> it's a...
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how are you going to bring down a trillion dollar deficit? i think the democrats are on -- i had to get that off my chest. stuart: gm car and truck sales are up 3%. the stock, dead flat. sales up 3%. that is the car sales numbers coming in today. steve, i want to get back to you here. the democrats say, wait a second, wait a second, you raise taxes on the rich just like the clinton did back in 1992 and you end up with a bill. you have a solid expansion. what do you make up with that argument? >> i hope they do not believe that argument. look, maybe barack obama is right. maybe if you raise these taxes, it will not hurt the economy. [talking over each other] stuart: bill clinton raised taxes and the economy took off. >> there are a lot of things that influence the economy. not just taxes. there are other things. there is no monetary policy, which was great under bill clinton. do not forget that bill clinton did welfare reform. one of the most historic acts over the last 50 years. do not forget that we caught government spending within those ye
how are you going to bring down a trillion dollar deficit? i think the democrats are on -- i had to get that off my chest. stuart: gm car and truck sales are up 3%. the stock, dead flat. sales up 3%. that is the car sales numbers coming in today. steve, i want to get back to you here. the democrats say, wait a second, wait a second, you raise taxes on the rich just like the clinton did back in 1992 and you end up with a bill. you have a solid expansion. what do you make up with that argument?...
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Nov 30, 2012
11/12
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the fiscal deficits are unsustainable. there's very little work done for reforming the economy structurally. so we don't feel good about them. we have been underweight everything in europe for a long time. >> you want to continue to be underweight in europe given the debt crisis? is that the reason? >> we have about $600 billion of assets. we invest them in the long term. the long-term characteristics of economies are very important. we believe eurozone economies are in structural decline and deficit. >> let me ask you about where you have been investing. i know you've been investing a lot in asia. the emerging markets have been an area of promise for you. but they've slowed a lot. do you still want to put your money there given the fact china slowed, indonesia. some of these hot spots are nowhere they were a couple years ago. >> we grew more than 30% in indonesia. what's happening with us is that we cater to the middle classes, and the fact there are more and more asians in the middle class is, if you wish, not correlated
the fiscal deficits are unsustainable. there's very little work done for reforming the economy structurally. so we don't feel good about them. we have been underweight everything in europe for a long time. >> you want to continue to be underweight in europe given the debt crisis? is that the reason? >> we have about $600 billion of assets. we invest them in the long term. the long-term characteristics of economies are very important. we believe eurozone economies are in structural...
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Dec 3, 2012
12/12
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rajoy has warned it will achieve the deficit target agreed with the eu. he said he couldn't guarantee there would nobody further spending cuts and he would not have any doubts about using the ecb's omt program, though of course with yields where they are at the moment, they don't have to. in fact we spoke to patrick garvey a little bit earlier today that suggests that the risk-on theme for debt will continuum at least the end of january. remember, spain will have another batch of pre-funding for 2013 later this week on thursday. otherwise that's it for today's edition. coming up, the first "squawk box" of the week and countdown to the open of markets state side. whatever happens, we hope you have a profitable day. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. tis the pursuit of perfection. >>> good morning. today's top stories. fiscal cliff hanger. there's now less than a m
rajoy has warned it will achieve the deficit target agreed with the eu. he said he couldn't guarantee there would nobody further spending cuts and he would not have any doubts about using the ecb's omt program, though of course with yields where they are at the moment, they don't have to. in fact we spoke to patrick garvey a little bit earlier today that suggests that the risk-on theme for debt will continuum at least the end of january. remember, spain will have another batch of pre-funding...
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Dec 7, 2012
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i thought the deficit was a big rob and want to a measure that helps reduce the deficit help the economy? >> i just don't know. in the capital gains sense i personally think and i think it's also been proven in the past if you lower rates it increases the revenue to the government. we should be focused on revenue generation. >> let's talk about reality because you're somebody who has money and is looking at situations like this. has it changed your behavior on investments, you could make, you would make down the road? >> that's a great question. i would say me personally probably not. but, you know, i just -- when i look at the rest of the world and i look -- i can't understand it and i can't really know why do you think it is, why is there so much cash on the sidelines and earning such a low rate of return as we just saw pointed out? why aren't they investing it into things? what is holding it? i don't know -- >> what's happening at quicken loans, i know it's a privately held company. what are you doing in terms of jobs, in terms of -- >> we are doing really well. we positioned ourselve
i thought the deficit was a big rob and want to a measure that helps reduce the deficit help the economy? >> i just don't know. in the capital gains sense i personally think and i think it's also been proven in the past if you lower rates it increases the revenue to the government. we should be focused on revenue generation. >> let's talk about reality because you're somebody who has money and is looking at situations like this. has it changed your behavior on investments, you could...
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Dec 7, 2012
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would be counterproductive if congress cut invest. >>> in education and job training to "reduce the deficit" in a way that would impact future economic growth. we've got to fix the workforce investment, the job training system in the united states to prepare people for the types of jobs that ceo has. >> you've been there, you've had to forge deals between warring constituencies. fiscal cliff. what would the solution be if you were handling it? >> i like the idea of the president, john boehner, the key players, getting together with no staff in the room. the second thing, they've got to be guided by a couple of things. number one, what is best for the nation? not my party, not my philosophy, not necessarily my politics. number two -- >> you'd like it one on one. >> editd' i'd like it one on on discuss specifics in a one on one way. second, they may agree there should be short-term steps and long-term steps, i think we can get there. the nation is counting on them doing something significant. >> saints/giants this weekend? >> i've got to go for the saints. i'm -- >> they both need a win. >> g
would be counterproductive if congress cut invest. >>> in education and job training to "reduce the deficit" in a way that would impact future economic growth. we've got to fix the workforce investment, the job training system in the united states to prepare people for the types of jobs that ceo has. >> you've been there, you've had to forge deals between warring constituencies. fiscal cliff. what would the solution be if you were handling it? >> i like the idea...
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Dec 5, 2012
12/12
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of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be bygones does not come naturally to him as a man, he is doing a convincing job as a president. getting the business community to be message multipliers and supporters of his on basic economic issues. it makes sense. what about accountability? and here's what i mean. the big business guys who really, really really wanted president mitt romney. they spent through the roof to get president mitt romney and they lost. they did not get a president romney. they still have a president obama. but now they're at the president obama white house almost every week meeting with president obama. and i unde t a i underst what ab the f all this face time with president. does t i we're tol elizabe mas sea committ them on board with his agenda, particularly for his side of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be b
of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be bygones does not come naturally to him as a man, he is doing a convincing job as a president. getting the business community to be message multipliers and supporters of his on basic economic issues. it makes sense. what about accountability? and here's what i mean. the big business guys who really, really really wanted...
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Dec 6, 2012
12/12
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bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after reagan appeared in that one debate against carter and people said, hey, he isn't so bad. i have a choice. >> one of the other players, besides the two candidates was bill clinton, the former president, don't think anybody made a better case of making the case for obama than bill clinton. at the convention a critical moment when he explained the arithmetic of what obama inherited. >> in tampa the republican argument against the president's re-election was pretty simple, pretty snappy. it went something like this. we left him a total mess. he hadn't cleaned it up fast
bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after...
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Dec 4, 2012
12/12
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we need to show the world we can get our economy under control, reduce the deficit, and begin to show leadership in various areas of new technology that demonstrated here to the rest of the world. kohl will always be there. -- coal is always going to be there. there's lots of work there. all the sales will help, i think, of leverage our capability and give us more options. >> let me bring you in. 92% of american transportation is run on petroleum. with this new landscape for energy production of, how are we doing on diversifying different kinds of things that are running our transportation? >> so far, it is going slow. something that was deeply focused on was something note senator alexander said earlier. we need to find more and use less. i think you're asking about the use less part. the extension of the changing fuel efficiency standards was one thing, but we believe fervently in the need to diversify away from using petroleum for transportation and given that it represents 70% of our use of petroleum to begin with. with the change in technology and the access to so much homegrown
we need to show the world we can get our economy under control, reduce the deficit, and begin to show leadership in various areas of new technology that demonstrated here to the rest of the world. kohl will always be there. -- coal is always going to be there. there's lots of work there. all the sales will help, i think, of leverage our capability and give us more options. >> let me bring you in. 92% of american transportation is run on petroleum. with this new landscape for energy...
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. >> i think there's going to be a frame work achieved, but not meaningful debt or deficit reduction, no reform to entitlements, and i don't think there's tax reform. there's a deal in form, but i think there's more to get done. >> are we done? >> ask another if you want. >> do they really have to raise taxes? people accepted that's the outcome. >> i think that they need to raise revenue. how they do it, whether it's some tax increases or some limiting of deductions, but it shouldn't be hard to bridge a gap that's wider and wider. >> a matter of what it looks like, a given at this point. >> i think it is. >> higher taxes are coming. doug, thank you. ask as many questions as you want. >> you're generous with your time. >> that's what dagen does when she's here. >> she would be huck -- heckling you for your bad voice today. the supposed middleman in the debt negotiations throwing fire on the talks this week by saying nothing will get done unless republicans agree to raise tax rates on the rich. >> there you go. rich edson in dc with the latest on that. hey, rich. >> congressional republ
. >> i think there's going to be a frame work achieved, but not meaningful debt or deficit reduction, no reform to entitlements, and i don't think there's tax reform. there's a deal in form, but i think there's more to get done. >> are we done? >> ask another if you want. >> do they really have to raise taxes? people accepted that's the outcome. >> i think that they need to raise revenue. how they do it, whether it's some tax increases or some limiting of...
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Nov 29, 2012
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the president's message >>> if we get this part of it right, a lot of the other issues surrounding deficit reduction are going to be a whole lot easier. if we get this wrong, the economy is going to go south. we don't have a lot of time here. we have a few weeks to get this thing done. we could get it done tomorrow. optimistically, i don't think we are going to get it done tomorrow. >> the white house is using all social media resources to get the message out and put pressure on the republicans. >> today, i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress, write them an e-mail, post it on their facebook walls. you can tweet it using the hash tag my 2 k, not y2 k. >> the president was laughing about you the strategy, seriously effective. the my2k was one of the top trends on twitter all day long. republicans aren't too happy. they are getting outflanked. >> if the president wants to reach an agreement, he n
the president's message >>> if we get this part of it right, a lot of the other issues surrounding deficit reduction are going to be a whole lot easier. if we get this wrong, the economy is going to go south. we don't have a lot of time here. we have a few weeks to get this thing done. we could get it done tomorrow. optimistically, i don't think we are going to get it done tomorrow. >> the white house is using all social media resources to get the message out and put pressure on...
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Dec 5, 2012
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but anyway, the deficit is clearly not going to achieve getting rid of that in a five-year period. many estimates believe that in 2013-2014, the next fiscal year, it's going to be around 7%. that's better than the 11% inherited by this government, but will be a couple points worse than greece and spain. so that's a big negative for george osbourne. another one will be getting the percentage of debt compared with gdp in the country, getting that down within a five-year period, getting it syncing in the right direction. he thought it was going to peek around 75%, 75%. it looks like it could go up even further. so let's see what he says on that front today. in terms of options, he has very few options indeed because this is a government which as we know has set its fallout on plan a. and yet, are we seeing real austerity? i'm not entirely sure. government borrowing this fiscal year so far in the five months that we have figures for already is 26.7% higher than the same period a year ago. the idea originally this year was for flat spending and then getting it down there after. and he's
but anyway, the deficit is clearly not going to achieve getting rid of that in a five-year period. many estimates believe that in 2013-2014, the next fiscal year, it's going to be around 7%. that's better than the 11% inherited by this government, but will be a couple points worse than greece and spain. so that's a big negative for george osbourne. another one will be getting the percentage of debt compared with gdp in the country, getting that down within a five-year period, getting it syncing...
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Dec 5, 2012
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number two, if we don't get our arms around the debt and lower the debt and deficits of the u.s., what are the implications for our kids? what are the implications for the economy? give it to us straight. >> there's no question that the most important challenge for us to tackle here is controlling health care costs. medicare is at the center of it when it comes to the budget. we're going to have to do as much as possible to get on top of the fact that health care costs squeezing out the rest of the budget. that's true through the whole system, and we're going to have to fix the way that entitlement program works. in terms of what this means for the country, the whole issue here is are we going to leave the economy strong enough for the next generation? that's what this comes down to. what we're going now, we're making these short-term choices. we've been make them for years. we're spending more than we're willing to pay for, and we're basically saying to the next generation, here's the bill. and it's going to just undermine the strength of the economy. i should point out, we're not bor
number two, if we don't get our arms around the debt and lower the debt and deficits of the u.s., what are the implications for our kids? what are the implications for the economy? give it to us straight. >> there's no question that the most important challenge for us to tackle here is controlling health care costs. medicare is at the center of it when it comes to the budget. we're going to have to do as much as possible to get on top of the fact that health care costs squeezing out the...
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Dec 7, 2012
12/12
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you cannot cut your way to deficit retacks. what does reduce the deficit are somebody, job creation. we have spending cut and medicare saving and we need re-knew. >> john: four weekends until the country goes over the fiscal cliff. bring in panel. charles lane for "washington post" with us. nina easton from quot fortune" magazine and of course, sindcated columnist charles krauthammer. get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take? >> political will in a word. what is interesting about the jobs numbers and the economy in general is that it's not so much the fundamentals of the economy. businesses who hire people who create jobs which nancy pelosi is looking for are looking for political will out of washington. they are looking for certainty on the fiscal cliff. certainty that debt re
you cannot cut your way to deficit retacks. what does reduce the deficit are somebody, job creation. we have spending cut and medicare saving and we need re-knew. >> john: four weekends until the country goes over the fiscal cliff. bring in panel. charles lane for "washington post" with us. nina easton from quot fortune" magazine and of course, sindcated columnist charles krauthammer. get to the fiscal cliff in a second. but first, the job report this morning, 7.7%...